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In a recent Fox News interview, billionaire Tom Dundon, owner of the Carolina Hurricanes, expressed why significant political donors are turning their support from President Joe Biden to former President Donald Trump. Dundon’s remarks come as the nation gears up for another showdown between the two political heavyweights this fall.

“Historically, some of the way Trump treats people doesn’t sit well with them when you have choices, but there’s really not many choices anymore,” Dundon said, highlighting the limited alternatives donors feel they have in the current political landscape.

Dundon pinpointed several key issues under Biden’s administration that he and other high-profile donors find troubling. He cited Biden’s foreign policy decisions, the ongoing issues with open borders, and the surging inflation rates as critical failures that have led to a shift in donor allegiance.

“Some of the things have gotten to where it’s hard to support nonsense,” Dundon stated, emphasizing the frustration among donors.

This sentiment is echoed by many influential figures on Wall Street. Left-leaning POLITICO reported that numerous high-dollar donors at banks, hedge funds, and other financial firms who had previously distanced themselves from Trump due to his post-2020 election rhetoric and judicial system criticism are now reconsidering their stance. They are focusing on Trump’s potential to ease regulations, reduce taxes, and assert U.S. power globally.

Among those who have shifted back to Trump are Point Bridge Capital founder Hal Lambert, hedge fund executive Nelson Peltz, and hotel mogul Robert Bigelow. These figures, along with others, are prioritizing policy over personality as they reassess their political support.

Billionaire New York radio station owner and real estate investor John Catsimatidis is one such donor. “Trump is a much better choice than what we have now. Just check out the four years that Trump was in office versus the three years that President Biden was in office,” Catsimatidis remarked. “It’s horrible what’s going on.”

Hedge fund manager Bill Ackman is reportedly leaning towards backing Trump due to Biden’s handling of the rise in anti-Semitism. This concern resonates with other donors who are alarmed by what they see as a lack of effective response from the current administration.

Steve Schwarzman, CEO and co-founder of Blackstone, also voiced his support for Trump. Schwarzman pointed to the “dramatic rise of anti-Semitism” as a significant factor in his decision, underscoring the urgency he feels about the upcoming election. He criticized the Biden administration’s economic, immigration, and foreign policies, stating that they are “taking the country in the wrong direction.”

“For these reasons, I am planning to vote for change and support Donald Trump for president,” Schwarzman said. “In addition, I will be supporting Republican Senate candidates and other Republicans up and down the ticket.”

The shift among these prominent donors reflects a broader dissatisfaction with the current administration’s policies and their impacts on the nation. As the 2024 election approaches, the support of these high-profile donors could significantly influence the political landscape.

Dundon’s remarks and the actions of these influential figures highlight the growing momentum behind Trump’s campaign, fueled by a desire for policy changes and a response to the pressing issues facing the country today. The coming months will reveal how this shift in donor support will shape the political battlefield as Americans prepare to cast their votes.